Newson’s Lockheed Lounge chair sells for a record $1.6 million

While Marc Newson’s luxurious Lockheed Lounge chaise had a pre-sale estimate of between £500,000 and £700,000 at Christie’s, it managed to sell for 1.1 million pounds ($1.6 million), which is an auction record for a piece of contemporary design art. This metal lounger has been once used in a Madonna video for her 1993 single "Rain," and was the highlight of the 168-lot auction at Phillips de Pury & Company's London Design sale. A telephone bidder paid the winning price for the chair, which included fees. Interestingly, this chair has once failed to sell at Christie’s in 1999, when it was estimated at just between £35,000 and £50,000. It’s good to see such cutting-edge designs making records at auctions in these tough times.
Via: Bloomberg